Indonesia To Impose Export Ban, Chinese Nickel Imports From Indonesia Rose In November

Although China ’s total nickel ore imports fell in November, the number of nickel ore imports from Indonesia rose to the highest level in nearly six years, because buyers try to snap up supplies before Indonesia ’s export ban began in January 2010.

In November, China imported 3.33 million tons of Indonesian nickel ore, an increase of 7% from 3.11 million tons in October, the highest level since January 2014, and a year-on-year increase of 143%.

However, China ’s total nickel ore imports in November decreased by 12.5% ​​month-on-month. According to the General Administration of Customs data, China imported 5.99 million tons of nickel ore and concentrate last month, down from 6.85 million tons in October, but an increase of 46% from 4.1 million tons in the same period last year.

Nickel ore is mainly used in China to produce nickel pig iron, a raw material for the production of stainless steel( Stainless steel is an important material for manufacturing stainless steel pipes). China ’s imports of nickel pig iron in November increased by 35.6% month-on-month to 229,030 tons, an increase of nearly 150% from 92,753 tons in the same period last year.

Indonesia confirmed in September that it would ban nickel ore exports from 2020, which is why the ore exports surged before the end of the year.

Due to violations found, Indonesia suspended its ore exports at the end of October, but allowed some companies to resume exports two weeks later.

Data released by the Indonesian statistical agency earlier this month showed that Indonesia exported 2.7 million tons of nickel ore in November with an export value of 112 million US dollars.

Total exports for the first 11 months of this year were 29.34 million tons.

In China, 2.48 million tons of Philippine nickel ore were imported in November, down from 3.38 million tons in October; a year-on-year decrease of 2.4%. Philippine nickel ore is an alternative supply for Chinese buyers, but the ore grade is lower.

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Posted by Kaysuns.com